LMBS vs. JMTG

Last updated Jun 4, 2026

LMBS (First Trust Low Duration Mortgage Opportunities ETF) and JMTG (JPMorgan Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. LMBS charges 0.68%/yr vs 0.24%/yr for JMTG.

Performance

LMBS vs. JMTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Low Duration Mortgage Opportunities ETF (LMBS) and JPMorgan Mortgage-Backed Securities ETF (JMTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LMBS achieves a 1.24% return, which is significantly higher than JMTG's 0.45% return.

LMBS

• 1D: -0.10%
• 1M: 0.11%
• YTD: 1.24%
• 6M: 1.47%
• 1Y: 6.09%
• 3Y*: 5.73%
• 5Y*: 3.03%
• 10Y*: 2.67%

JMTG

• 1D: -0.06%
• 1M: -0.04%
• YTD: 0.45%
• 6M: 0.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LMBS vs. JMTG - Yearly Performance Comparison

	2026 (YTD)	2025
LMBS First Trust Low Duration Mortgage Opportunities ETF	1.24%	3.58%
JMTG JPMorgan Mortgage-Backed Securities ETF	0.45%	3.90%

Correlation

The correlation between LMBS and JMTG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.81

Return for Risk

LMBS vs. JMTG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LMBS

LMBS Risk / Return Rank: 88
LMBS Sharpe Ratio Rank: 90
LMBS Sortino Ratio Rank: 93
LMBS Omega Ratio Rank: 92
LMBS Calmar Ratio Rank: 81
LMBS Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LMBS vs. JMTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Low Duration Mortgage Opportunities ETF (LMBS) and JPMorgan Mortgage-Backed Securities ETF (JMTG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	LMBS	JMTG	Difference
Sharpe ratio: Return per unit of total volatility	3.10	—	—
Sortino ratio: Return per unit of downside risk	4.79	—	—
Omega ratio: Gain probability vs. loss probability	1.62	—	—
Calmar ratio: Return relative to maximum drawdown	4.28	—	—
Martin ratio: Return relative to average drawdown	18.25	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LMBS	JMTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	1.29	-0.16

Drawdowns

LMBS vs. JMTG - Drawdown Comparison

The maximum LMBS drawdown since its inception was -6.49%, which is greater than JMTG's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for LMBS and JMTG.

Drawdown Indicators

	LMBS	JMTG	Difference
Max Drawdown Largest peak-to-trough decline	-6.49%	-2.78%	-3.71%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-6.49%	—	—
Current Drawdown Current decline from peak	-0.34%	-1.79%	+1.45%
Average Drawdown Average peak-to-trough decline	-0.80%	-0.66%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	—	—

Volatility

Volatility by Period

	LMBS	JMTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.97%	3.68%	-1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.56%	3.68%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.36%	3.68%	-1.32%

LMBS vs. JMTG - Expense Ratio Comparison

LMBS has a 0.68% expense ratio, which is higher than JMTG's 0.24% expense ratio.

Dividends

LMBS vs. JMTG - Dividend Comparison

LMBS's dividend yield for the trailing twelve months is around 4.10%, more than JMTG's 3.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMTG JPMorgan Mortgage-Backed Securities ETF	3.92%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LMBS First Trust Low Duration Mortgage Opportunities ETF	4.10%	4.08%	4.28%	3.96%	2.22%	2.04%	2.27%	2.55%	2.76%	2.73%	2.84%	3.03%

Frequently Asked Questions

Can I hold both LMBS and JMTG in my portfolio?

LMBS and JMTG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LMBS or JMTG?

On fees, JMTG is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LMBS or JMTG?

JMTG is cheaper with a 0.24% expense ratio, compared with 0.68% for LMBS.

Which ETF pays a higher dividend yield, LMBS or JMTG?

LMBS has the higher dividend yield at 4.10%, compared with 3.92% for JMTG.

What is the main difference between LMBS and JMTG?

They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.68% for LMBS and 0.24% for JMTG.